The Insider Stories Morning Notes – JCI expected to go up on technical rebound, Wall Street

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to go up today on technical rebound following significant declines early this week, with news of encouraging economic such as higher foreign reserves and higher close of Wall Street overnight are likely to inject positive sentiment on the market, analysts say.

On Tuesday, the Jakarta Composite Index (JCI) closed up 13 points or up 0.29 percent at 4,763, trading above support level of 4,750 points, although selling pressure still undermining the market.

Overnight, Wall Street shares ended higher. DJIA gained 1.26 percent, S&P500 rose 1.25 percent and Nasdaq gained 1.26 percnet. The EU stocks also ended in positive territory. FTSE index in London rose 0.68 percent, DAX in German rose 0.65 percent and CAC in France gained 0.36 percent.

Yesterday, in Asia, Nikkei surged 2.15 percent, Hang Seng index in Hong Kong rose 0.47 percent and SSE in Shanghai edged up 0.02 percent.

William Surya Wijaya, head of research of PT Asjaya Indosurya Securities, said technically, the JCI is expected to trade within support level of 4,721 and resistance level of 4,802 points today.

He said a higher foreign exchange reserves indicated that the economy remains in good condition that could lift the market today. He sees the chance for the JCI to go up today.

Today’s menu  :

– WIKA

– BBNI

– BALI

– KLBF

– ASII

– ICBP

– AKRA

– BBCA

– TBIG

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to go up on technical rebound, Wall Street

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